GBPUSD H4 | Bearish breakout
Title
GBPUSD H4 | Bearish breakout
Type
Bearish Breakout
Preference:
The price is falling towards the pivot level of 1.3101, A break below this level could cause the price to drop to the 1st support at 1.2936, an overlap support close to the 61.8% Fibonacci retracement and 61.8% Fibonacci projection
Alternative Scenario:
If the price breaks above the pivot, it may rise to the 1stt resistance level at 1.3229, a pullback resistance